Money in Latvia

Latvia - Money
Economic growth sped up in annual terms in Q1 2022, as less stringent Covid-19 measures led to a strong performance from the services sector. Annual retail sales averaged markedly higher in Q1 compared to Q4, while the unemployment rate dropped to its lowest level since June 2020 in March. That said, subdued activity in the producing sectors capped the overall improvement. Moreover, price pressures have continued to build up since the outset of the year—inflation hit an over 13-year high in April—due to markedly higher food prices, and are only expected to rise further in the near term. In response, Prime Minister Krišjanis Karinš replaced both the Interior and Economics Ministers, aiming for better management of the impacts of the Russian invasion of Ukraine. Nonetheless, the move has been widely criticized as untimely due to the currently spiraling energy crisis.Latvia - Money Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Money (annual variation in %) | 13.9 | 7.4 | 5.9 | 14.7 | - |
Latvia Money Chart

Source: Bank of Latvia and FocusEconomics calculations.
Latvia Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 0.55 | 0.0 % | Jun 30 |
Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Latvia: Industrial output growth wanes in June
August 3, 2022
Industrial output grew 0.7% compared to the same month of the previous year in June, which was a deterioration from May's 6.4% increase.
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Latvia: Inflation comes hits highest level in over 26 years in June
July 8, 2022
Consumer prices rose 2.46% in June over the previous month, easing from May’s 3.91% rise.
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Latvia: Industrial output growth ebbs in April
June 3, 2022
Industrial output expanded 3.7% in year-on-year terms in April, which followed March's 6.3% increase.
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Latvia: GDP growth records best result since Q2 2021 in Q1 2022
May 31, 2022
A second estimate revealed that GDP growth improved to 6.7% year on year in the first quarter, from 3.1% in the fourth quarter of last year.
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Latvia: Industrial output growth improves in May
May 6, 2022
Industrial output rose 5.3% in year-on-year terms in May, which followed April's 3.7% increase.